Legacy Financial Advisors Inc. Reduces Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Legacy Financial Advisors Inc. decreased its holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 16.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,921 shares of the industrial products company’s stock after selling 1,759 shares during the period. Legacy Financial Advisors Inc.’s holdings in MSC Industrial Direct were worth $708,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC grew its stake in MSC Industrial Direct by 30.0% in the 1st quarter. GAMMA Investing LLC now owns 528 shares of the industrial products company’s stock valued at $51,000 after buying an additional 122 shares in the last quarter. Carolina Wealth Advisors LLC raised its stake in shares of MSC Industrial Direct by 3.3% during the 1st quarter. Carolina Wealth Advisors LLC now owns 3,978 shares of the industrial products company’s stock valued at $386,000 after purchasing an additional 127 shares during the period. WCM Investment Management LLC raised its stake in shares of MSC Industrial Direct by 8.3% during the 1st quarter. WCM Investment Management LLC now owns 2,340 shares of the industrial products company’s stock valued at $227,000 after purchasing an additional 179 shares during the period. Rockland Trust Co. lifted its holdings in MSC Industrial Direct by 2.0% during the 1st quarter. Rockland Trust Co. now owns 10,471 shares of the industrial products company’s stock worth $1,016,000 after purchasing an additional 207 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in MSC Industrial Direct by 1.7% in the 2nd quarter. Arizona State Retirement System now owns 12,609 shares of the industrial products company’s stock worth $1,000,000 after purchasing an additional 209 shares during the period. Institutional investors own 79.26% of the company’s stock.

MSC Industrial Direct Stock Performance

Shares of NYSE MSM opened at $83.86 on Friday. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 16.28 and a beta of 0.86. The stock’s 50-day moving average is $82.02 and its 200 day moving average is $86.82. The company has a current ratio of 2.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21. MSC Industrial Direct Co., Inc. has a 1-year low of $75.05 and a 1-year high of $105.77.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Tuesday, July 2nd. The industrial products company reported $1.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.33. The company had revenue of $979.40 million during the quarter, compared to analysts’ expectations of $979.10 million. MSC Industrial Direct had a net margin of 7.44% and a return on equity of 21.31%. The firm’s revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.74 EPS. On average, sell-side analysts anticipate that MSC Industrial Direct Co., Inc. will post 4.84 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Tuesday, July 9th were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend was Tuesday, July 9th. MSC Industrial Direct’s dividend payout ratio is presently 64.47%.

Wall Street Analyst Weigh In

MSM has been the topic of several analyst reports. Stephens reiterated an “overweight” rating and set a $110.00 price target on shares of MSC Industrial Direct in a research report on Friday, June 14th. KeyCorp downgraded shares of MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a report on Monday, June 17th. Loop Capital reduced their price target on shares of MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. StockNews.com lowered MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Saturday, June 8th. Finally, Baird R W cut MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $90.20.

Insider Buying and Selling

In other news, SVP Kimberly Shacklett sold 4,885 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $84.60, for a total value of $413,271.00. Following the transaction, the senior vice president now owns 12,897 shares in the company, valued at $1,091,086.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.80% of the stock is owned by corporate insiders.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products and services in the United States, Canada, Mexico, the United Kingdom, and internationally. The company's MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock products, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.